Updated Three-Unit
New
For Sale
$449,994
32 Worcester, Charlton, MA 01507
Mixed-use property combines residential units with commercial space and off-street parking.
Property Size2,610 SF
Days on Market4
Property Features for 32 Worcester
General Information
Standard status
Active
Size
2,610 SF
Property subtype
Residential Income
Zoning
CB
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$53,400
Taxes and HOA fees
Annual Taxes
$3,433
Amenities
off-street parking
Building Details
Building Size
2,610 SF
Year Built
1880
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
eXp Realty LLC
(978) 710-5616
Listed By:
Candor Investment Group
(978) 710-5616
Source:
Startpoint
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 8 at 11:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty LLC
Investment Insights
Based on property information with market context.
Built in 1880, this three-unit mixed-use property includes two residential apartments and one commercial unit. Each apartment has two bedrooms and one bathroom, while the commercial space is occupied by a small business tenant. Recent improvements include new flooring, interior paint, roof work, plumbing and electrical upgrades, and deck repairs. Off-street parking is also provided.
The property is located at 32 Worcester Road in Charlton, Massachusetts, and carries CB zoning. One residential lease ends in late July, creating an owner-occupancy option for the next owner. The commercial unit is leased to a long-term tenant, while the residential spaces provide a complementary mix within the building.
The property is located at 32 Worcester Road in Charlton, Massachusetts, and carries CB zoning. One residential lease ends in late July, creating an owner-occupancy option for the next owner. The commercial unit is leased to a long-term tenant, while the residential spaces provide a complementary mix within the building.
Key Highlights
- Three‑unit mixed‑use property at 32 Worcester Road in Charlton, MA 01507
- Two 2‑bedroom, 1‑bath residential units plus one commercial unit
- Built in 1880 with new flooring, fresh paint, roof updates, and deck repairs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,281
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$705,620
$705.6K
Cap Rate 7%
$504,014
$504.0K
Cap Rate 9%
$392,011
$392.0K
Market Conditions
NOI Build-Up for 2,610 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.7K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$50.4K $19.31/SF
− OpEx
−$15.1K −$5.79/SF
NOI
$35.3K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$705,620
Cap Rate 7%
$504,014
Cap Rate 9%
$392,011
Alternative Uses
Best Use
Multifamily LT 5
$504.0K
$441.0K – $588.0K
NOI $35,281 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$438.6K
$383.8K – $511.7K
NOI $30,704 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$891.3K
$779.9K – $1.04M
NOI $62,389 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 01507, MA
13,315
Population
5,240
Households
2.5
Avg Household Size
44
Median Age
38%
College-Educated
94%
High-School Grad
42.2 sq mi
ZIP Area
316
Density / Sq Mi
$119,809
Median Household Income
$64,911
Median Earnings
$1,215
Median Rent
$405,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Mixed-use property combines residential units with commercial space and off-street parking.
Where is this triplex located?
The property is located at 32 Worcester Charlton, MA.
What is the asking price?
The asking price for this property is $449,994.
What are key features of this property?
This property features: Three‑unit mixed‑use property at 32 Worcester Road in Charlton, MA 01507; Two 2‑bedroom, 1‑bath residential units plus one commercial unit; Built in 1880 with new flooring, fresh paint, roof updates, and deck repairs
